Forensic Accounting

670 Words3 Pages
An accounting degree can create several opportunities for jobs available in the current job economy. These can start from the mundane and obvious such as accountant and auditor to more interesting jobs. This can include an international accountant, a person who travels across the globe and reports on the world’s financial status, to the CEO of a company. However, one niche group is starting to gain momentum among the rest of these careers, this job being in forensic accounting.
Forensic accounting in the general sense is an accountant who is hired to look into possible white collar activities in a company, or to prevent the crimes from occurring. A white collar crime is a nonviolent crime that is motivated by money and is against either a large company or the government. These crimes often are committed by workers who are at a higher status than what would be considered given the opportunity for more possible passwords and special intelligence not shared with the general workforce. Some common crimes that are perpetrated include embezzlement, fraud, bribery, and identity fraud. These crimes are not only more complex to complete but are also more destructive to the company than some crimes, such as shoplifting or graffiti. White collar crimes can completely destroy a company's assets, reputation, or even completely bankrupt a company if the heist is efficient enough. Since these crimes are so devastating to the business world, a forensic account is an absolute must in order for businesses to stay competitive and safe.
Because forensic accounting is such a specialized job there are several qualifications that are required in order to be recognized as an forensic accounting. First, a person wanting to becoming a forensic account...

... middle of paper ...

...exam application, which includes proof of education as well as professional recommendations. According to the website, it is recommended that all this information is sent in a month prior to when one is planning on taking the exam. After paying the three hundred and fifty dollar fee, you can then take the exam. The evaluation is a computer test that is comprised of four components. The four sections are Financial Transactions and and Fraud Schemes, Law, Investigation, and Fraud Prevention and Deterrence. Once a person passes the exam they become a CFE and have to pay the annual dues in order to keep their certification. This certification is very valuable in the forensic accounting market. With a CFE a forensic accountant in the median range can have an increase of nineteen thousand dollars compared to a median ranged forensic accountant who does not have a CFE.
Open Document